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NIFTY LEVELS FOR 18 OCT 2010

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Here we are with today’s (18-OCT-2010) NIFTY Future analysis:
Nifty Future is likely to be bearish till its first support level of 6019. If it continues to trade below this level then we see immediate intraday support at 5982 levels. If it trades above 6033, Target for Nifty Future comes to 6060 and 6077 in extension.

Our Analysis: BUY NIFTY FUTURE ABOVE 6019 FOR TARGET: 6055 / 6077 STOP LOSS SHOULD BE PLACED AT 6099.
ALTERNATIVE: SELL NIFTY FUTURE BELOW 5972 FOR TARGET: 5932 / 5911 STOP LOSS AROUND 5994.

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About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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